UK markets closed
  • NIKKEI 225

    29,018.33
    -272.68 (-0.93%)
     
  • HANG SENG

    28,558.59
    +121.75 (+0.43%)
     
  • CRUDE OIL

    70.91
    -1.24 (-1.72%)
     
  • GOLD FUTURES

    1,774.60
    -86.80 (-4.66%)
     
  • DOW

    33,823.45
    -210.22 (-0.62%)
     
  • BTC-GBP

    27,074.97
    -771.14 (-2.77%)
     
  • CMC Crypto 200

    936.46
    -33.41 (-3.45%)
     
  • ^IXIC

    14,161.35
    +121.67 (+0.87%)
     
  • ^FTAS

    4,071.33
    -17.14 (-0.42%)
     

Hyundai Motor considers selling one of its Beijing factory sites - Yonhap

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
FILE PHOTO: A shop sign of Hyundai is seen outside a car showroom in Bletchley, Milton Keynes, Britain
  • Oops!
    Something went wrong.
    Please try again later.

SEOUL/BEIJING (Reuters) - South Korea's Hyundai Motor Co is in talks with the Chinese government to sell one of its factory sites in Beijing, news agency Yonhap reported on Friday, citing unnamed sources.

Yonhap said Hyundai Motor is promoting the sale of the factory site, the first one it had built in Beijing, to the Shunyi district government in China's capital city. (https://bit.ly/3oVd3UC)

Beijing Hyundai, the joint venture between Hyundai Motor and China's BAIC Motor Corp Ltd, has three manufacturing plants in Beijing.

Hyundai and BAIC did not immediately respond to requests for comment.

Chinese media on Thursday reported electric vehicle (EV) maker Li Auto is interested in taking over the factory, citing unnamed sources. Li Auto declined to comment when contacted by Reuters.

In April, Hyundai Motor Group said it plans to launch EVs in China every year starting 2022 to enhance its presence in the world's biggest car market.

(Reporting by Heekyong Yang in Seoul and Yilei Sun in Beijing; Editing by Devika Syamnath)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting